Free Trial

Well Off Post Data Bid Despite Softer Jobs Gains

US TSY FUTURES
  • Treasury futures have completely reversed the initial gap-bid highs post data, drifting lower again after decent bout of two-way trade: front month 10Y futures marked 111-00 high are trading back down to 110-12 (-7.5). Curves still off deeper inverted levels with short end outperforming: 2s10s +4.915 at -91.075.
  • Gist for moves: gap bid on lower than forecasted jobs gain and down revisions for prior two reports show "gradual moderation but still strong labor market, AHE firm at +.4 and workweek extended to 34.3 keeps FED on track to hike" one strategist said.
  • Projected rate hike(s) climbing back to pre-data levels, July 26 FOMC hike near 91% priced in w/ implied rate of 5.302.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.